Bicyclists are not the only ones who want to get rid of their old bikes, according to a new survey by a leading company.
The survey, conducted by automotive consultancy Accenture, found that more than half of consumers want to buy new bikes from 2018, up from 39% in 2017.
The companies report is based on a survey of more than 2,000 consumers.
A survey of consumer attitudes is not the same as a poll on attitudes toward the new bike, but the data indicates that more consumers are moving to buy bikes from the future, which is expected to accelerate the uptake of electric vehicles.
“The market for electric bikes has been growing rapidly over the last five years, and we expect that the market for new electric bikes will accelerate substantially in the coming years,” said Michael Bostock, chief executive officer at Accenture.
“With an anticipated demand for electric bicycles exceeding 100 million units by 2020, we believe that the adoption of electric bikes could be the biggest growth driver in the next few years.”
For the new 2018 survey, the firm surveyed more than 1,100 consumers who had bought new bikes or bikes that had been previously sold to them.
The majority of respondents said they wanted to replace their old bike with an electric one, and about two-thirds of respondents also said they want to purchase an electric bike for the first time.
The report found that consumers who own a 2018 model also want to upgrade their existing bike.
Almost half of the consumers said they would like to upgrade to a 2019 model, while almost a third of them said they’d like to purchase a 2019 bike.
But most consumers want a 2019 or newer bike.
The average price for an electric bicycle in 2018 was $12,000, compared to $15,000 for a conventional bike.
About a third (33%) of respondents who bought a 2018 or newer electric bike said they were willing to spend more than $200,000 to upgrade it to a higher-end electric model.
The market for bikes that have been sold to consumers has grown rapidly in the last year, with electric models on sale in almost every major market, according the Accenture report.
In 2017, the average price of a bike that had previously been sold was $7,400.
The number of electric bike models sold has more than doubled since the 2016 recession, according Accenture’s report.
For 2018, the number of electrified models sold increased by 9% to 1.5 million.
In 2019, sales of electric motorcycles reached a record high of 2.5 billion, according TOI.
For 2020, sales increased by 19% to 2.7 billion.
Bikes with more than one motor were most popular, with nearly half (48%) of those surveyed owning two or more motor.
Almost a third, or 36%, of the respondents also owned two or three motors.